Dems: Reagan was right about debt limit

[Modbert]

Dems: Reagan was right about debt limit - TheHill.com

The former president, a paragon of fiscal responsibility to many conservatives, raised the debt ceiling 17 times during his presidency.

The figure hasn’t been lost on Democratic leaders, who at their weekly caucus meeting Tuesday played a video of a 1987 radio address in which Reagan urged Congress to quit playing politics and hike the debt limit.

“Congress consistently brings the government to the edge of default before facing its responsibility,” Reagan said. “This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veteran benefits.”

Reagan also warned what effect congressional inaction would have on the global economy.

“Interest rates would skyrocket, instability would occur in financial markets and the federal deficit would soar,” Reagan cautioned. “The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility — two things that set us apart from much of the world.”

Thoughts USMB? For those who think President Obama is fear mongering on this issue, do you believe President Reagan was in 1987 as well?

 

[Trajan]

I'm sorry, just you know the irony is chock full of awesomeness....

 

[Steelplate]

it was different then....

 

[Trajan]

when? in 2006?

 

[Stephanie]

good grief, they hate Reagan until they want to use him.

They can't EVEN convince the people with THEIR OWN SHIT. They have to use other people..Friggen sad they are.

 

[Charles_Main]

Dems: Reagan was right about debt limit - TheHill.com

The former president, a paragon of fiscal responsibility to many conservatives, raised the debt ceiling 17 times during his presidency.

The figure hasn’t been lost on Democratic leaders, who at their weekly caucus meeting Tuesday played a video of a 1987 radio address in which Reagan urged Congress to quit playing politics and hike the debt limit.

“Congress consistently brings the government to the edge of default before facing its responsibility,” Reagan said. “This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veteran benefits.”

Reagan also warned what effect congressional inaction would have on the global economy.

“Interest rates would skyrocket, instability would occur in financial markets and the federal deficit would soar,” Reagan cautioned. “The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility — two things that set us apart from much of the world.”

Thoughts USMB? For those who think President Obama is fear mongering on this issue, do you believe President Reagan was in 1987 as well?

Yep, Because today is exactly like back then. You know when Reagan was asking to have the Debt Ceiling Increased to 20% of GDP. That is exactly the same as today when were talking about cranking the Debt Ceiling to well over 100% of GDP.

Yep Perfect analogy.

I also notice how in the Dems new Add, and in here. Nobody is mentioning that other than wanting the Debt Ceiling Raised. There is Absolutely nothing else in Common between Reagan and Obama.

Reagan Cut Taxes, Reagan understood government was the Problem not the Solution to our Economic Woes.

You liberals are just to cute.

 

[Modbert]

I'm sorry, just you know the irony is chock full of awesomeness....

Oh I think it's hilarious that the Democrats are quoting Reagan myself. I'm just wondering more so myself whether those who think President Obama is fear mongering on this issue whether President Reagan was as well.

Personally, I don't think either of them are.

 

[Modbert]

Yep, Because today is exactly like back then. You know when Reagan was asking to have the Debt Ceiling Increased to 20% of GDP. That is exactly the same as today when were talking about cranking the Debt Ceiling to well over 100% of GDP.

Yep Perfect analogy.

I also notice how in the Dems new Add, and in here. Nobody is mentioning that other than wanting the Debt Ceiling Raised. There is Absolutely nothing else in Common between Reagan and Obama.

Reagan Cut Taxes, Reagan understood government was the Problem not the Solution to our Economic Woes.

You liberals are just to cute.

President Obama also has cut taxes. Though President Reagan also raised taxes several times as well. Not going to ignore that, are we?

 

[Neotrotsky]

I'm sorry, just you know the irony is chock full of awesomeness....

Oh I think it's hilarious that the Democrats are quoting Reagan myself. I'm just wondering more so myself whether those who think President Obama is fear mongering on this issue whether President Reagan was as well.

Personally, I don't think either of them are.

No he did that when he voted against it as a US Senator

 

[Neotrotsky]

Dems: Reagan was right about debt limit - TheHill.com

The former president, a paragon of fiscal responsibility to many conservatives, raised the debt ceiling 17 times during his presidency.

Reagan also warned what effect congressional inaction would have on the global economy.

“Interest rates would skyrocket, instability would occur in financial markets and the federal deficit would soar,” Reagan cautioned. “The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility — two things that set us apart from much of the world.”

Thoughts USMB? For those who think President Obama is fear mongering on this issue, do you believe President Reagan was in 1987 as well?

Yep, Because today is exactly like back then. You know when Reagan was asking to have the Debt Ceiling Increased to 20% of GDP. That is exactly the same as today when were talking about cranking the Debt Ceiling to well over 100% of GDP.

Yep Perfect analogy.

I also notice how in the Dems new Add, and in here. Nobody is mentioning that other than wanting the Debt Ceiling Raised. There is Absolutely nothing else in Common between Reagan and Obama.

Reagan Cut Taxes, Reagan understood government was the Problem not the Solution to our Economic Woes.

You liberals are just to cute.

Papa Obama and the Left raised gov't spending up to about 25% of GDP
Historically, it has been around 20%.

Spending is the problem

 

[Modbert]

No he did that when he voted against it as a US Senator

I think both parties are wrong to not vote to raise the debt ceiling when they are in the minority. There's no logical reason to play russian roulette with the country's economy.

 

[xsited1]

If I were Obama, I would resurrect Reagan's stance on raising the debt limit because the contradictions in the conservative community are just too great. They argued against big government, yet they favored huge government projects. They were against the police state, yet they were eager to extend the powers of the FBI and the CIA. They were against government regulation of free enterprise, yet they supported the government's shoring up or bailing out of large corporations. Sound familiar?

The only good thing about Reagan was that he could actually speak without a teleprompter.

 

[Charles_Main]

Yep, Because today is exactly like back then. You know when Reagan was asking to have the Debt Ceiling Increased to 20% of GDP. That is exactly the same as today when were talking about cranking the Debt Ceiling to well over 100% of GDP.

Yep Perfect analogy.

I also notice how in the Dems new Add, and in here. Nobody is mentioning that other than wanting the Debt Ceiling Raised. There is Absolutely nothing else in Common between Reagan and Obama.

Reagan Cut Taxes, Reagan understood government was the Problem not the Solution to our Economic Woes.

You liberals are just to cute.

President Obama also has cut taxes. Though President Reagan also raised taxes several times as well. Not going to ignore that, are we?

Reagan Left Taxes on all incomes significantly lower than when he entered office. A net Cut.

Obama has made some insignificant cuts on the Lower Brackets but insists on Raising taxes on everyone else. His Policies are the Polar Opposite of Reagan when it comes to Government intervention in the Economy.

There simply is no comparison between the 2 men, or the 2 situations, and the fact that Dems are using it in an add is Pathetic.

I am by no means a Fan of Republicans lately my self, But I do commend them for fighting for spending Cuts before raising the Ceiling again. IMO it is the only Responsible thing to do. unless you look forward to losing our AAA Credit Rating that is.

 

[WillowTree]

I want them to default. Then we'll know who's been lying.

 

[Trajan]

I'm sorry, just you know the irony is chock full of awesomeness....

Oh I think it's hilarious that the Democrats are quoting Reagan myself. I'm just wondering more so myself whether those who think President Obama is fear mongering on this issue whether President Reagan was as well.

Personally, I don't think either of them are.

thats bot the irony I intended, but I'll roll with that.

see my next response to stealplate...thats irony.

 

[auditor0007]

Dems: Reagan was right about debt limit - TheHill.com

The former president, a paragon of fiscal responsibility to many conservatives, raised the debt ceiling 17 times during his presidency.

The figure hasn’t been lost on Democratic leaders, who at their weekly caucus meeting Tuesday played a video of a 1987 radio address in which Reagan urged Congress to quit playing politics and hike the debt limit.

“Congress consistently brings the government to the edge of default before facing its responsibility,” Reagan said. “This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veteran benefits.”

Reagan also warned what effect congressional inaction would have on the global economy.

“Interest rates would skyrocket, instability would occur in financial markets and the federal deficit would soar,” Reagan cautioned. “The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility — two things that set us apart from much of the world.”

Thoughts USMB? For those who think President Obama is fear mongering on this issue, do you believe President Reagan was in 1987 as well?

Most Democrats do not give Reagan the credit he deserves. The fact is that Reagan was a pragmatist and although he supported lower tax rates and wanted some cuts in government, he also understood that government played an important role and that we could not just cut it in half and lower tax rates to levels that actually reduced revenue.

As Governor of California, Reagan pushed through the largest tax increase in that state's history. Why? Because revenues simply were too low and had to be raised. Reagan, both as Governor of California and as POTUS realized there had to be a fair balance and to make things work, there had to be give and take. It wasn't so much about ideology; it was about common sense and making government work effectively.

Honestly, if Reagan were alive today, I think he'd be horrified by what has happened in Washington and this country. His intent was to create a situation where everyone had the opportunity to improve their lives, and that even included some getting a little help from the government. He never intended for all the benefits of low tax rates to go to such a small percentage of people.

Today, many Republicans and Conservatives look to Reagan as their hero and mentor, but they have twisted what he believed in into something much different. If you look at all the Republican candidates, you will see that there is only one who even comes close to resembling Ronald Reagan and his form of governance, and that is Mitt Romney, someone the real Conservatives can't stand.

 

[Charles_Main]

No he did that when he voted against it as a US Senator

I think both parties are wrong to not vote to raise the debt ceiling when they are in the minority. There's no logical reason to play russian roulette with the country's economy.

You guys are so Freaking Dramatic. You do realize how badly you are over reacting right? I mean who could blame you with Obama running around saying the Sky Will Fall 1 Second after Midnight if we do not Raise the Debt Ceiling.

The Truth however is we have gone as far as 90 Days Beyond the Deadline in the past with out Ever Defaulting. We Simply would have to Prioritize and some things would go unfunded.

But to suggest that if we do not Raise the Limit we will go into Default is Dishonest, and Irresponsible. If we can not manage paying the Interest on the Debt, and honoring Bonds when people cash them in, on the 200 Billion a month we take in with out Borrowing money. Then we are well and truly fucked.

 

[auditor0007]

good grief, they hate Reagan until they want to use him.

They can't EVEN convince the people with THEIR OWN SHIT. They have to use other people..Friggen sad they are.

Reagan would be closer to Obama than to just about any current Republican candidate save Romney.

 

[ShackledNation]

Yep, Because today is exactly like back then. You know when Reagan was asking to have the Debt Ceiling Increased to 20% of GDP. That is exactly the same as today when were talking about cranking the Debt Ceiling to well over 100% of GDP.

Yep Perfect analogy.

I also notice how in the Dems new Add, and in here. Nobody is mentioning that other than wanting the Debt Ceiling Raised. There is Absolutely nothing else in Common between Reagan and Obama.

Reagan Cut Taxes, Reagan understood government was the Problem not the Solution to our Economic Woes.

You liberals are just to cute.

President Obama also has cut taxes. Though President Reagan also raised taxes several times as well. Not going to ignore that, are we?

Reagan Left Taxes on all incomes significantly lower than when he entered office. A net Cut.

Obama has made some insignificant cuts on the Lower Brackets but insists on Raising taxes on everyone else. His Policies are the Polar Opposite of Reagan when it comes to Government intervention in the Economy.

There simply is no comparison between the 2 men, or the 2 situations, and the fact that Dems are using it in an add is Pathetic.

I am by no means a Fan of Republicans lately my self, But I do commend them for fighting for spending Cuts before raising the Ceiling again. IMO it is the only Responsible thing to do. unless you look forward to losing our AAA Credit Rating that is.

That Reagan cut taxes is largely a myth. But another topic is already discussing that so I won't start here. Any tax cuts under Reagan were largely counteracted by equally large tax increases somewhere else.

 

[Modbert]

Reagan Left Taxes on all incomes significantly lower than when he entered office. A net Cut.

Obama has made some insignificant cuts on the Lower Brackets but insists on Raising taxes on everyone else. His Policies are the Polar Opposite of Reagan when it comes to Government intervention in the Economy.

There simply is no comparison between the 2 men, or the 2 situations, and the fact that Dems are using it in an add is Pathetic.

I am by no means a Fan of Republicans lately my self, But I do commend them for fighting for spending Cuts before raising the Ceiling again. IMO it is the only Responsible thing to do. unless you look forward to losing our AAA Credit Rating that is.

Reagan raised taxes somewhere in the area of 11 times. This includes what was called the largest tax increase in peacetime in history up until that point. Taxes are already pretty low from the first two rounds of Bush tax cuts, the second President Obama himself signed. Then there is also the stimulus that was about 30-40% tax cuts.

Republicans don't want to make compromises whatsoever, nothing to commend them on there. President Obama has put Social Security, Medicare, Medicaid, etc reductions on the table. Republicans don't want to touch defense, tax loopholes for corporations, or raising taxes one red cent.

They walked away from a $4 trillion bill and wanted a $2 trillion one since the $4 trillion one involved some tax increases.

Meanwhile, Mitch McConnell and a lot of other Republicans are trying to trade away their ability to raise the debt ceiling and put it in the hands of the President in the name of politics. You want to commend them for that?